Home > Chemicals & Materials > Metalworking > Sintered Steel Market

Sintered Steel Market Trends

Report ID: GMI11584
Published Date: Sep 2024
Report Format: PDF

Download Free Sample

Sintered Steel Market Trends

The sintered steel industry is currently experiencing several notable trends driven by advancements in manufacturing processes and a heightened demand for sustainable solutions. A significant trend is the rising adoption of additive manufacturing (3D printing) alongside traditional sintering methods. This integration offers enhanced design flexibility and facilitates the production of intricate, customized parts at reduced costs. Furthermore, manufacturers are increasingly prioritizing energy-efficient sintering processes to cut down on energy consumption and carbon emissions, aligning with global sustainability objectives.

Another prominent trend is the growing preference for powder metallurgy in crafting components for sectors such as renewable energy and advanced electronics. The demand for precision and wear-resistant components in these industries has broadened the application of sintered steel beyond conventional markets like automotive and industrial machinery. Additionally, breakthroughs in materials science are paving the way for new sintered steel alloys with superior performance traits, driving further innovation. These dynamic trends highlight the market's responsiveness to technological advancements and its commitment to fostering greener, more efficient production methodologies.

Authors: Kiran Pulidindi, Manish Verma

Frequently Asked Questions (FAQ) :

The global market size for sintered steel was valued at approximately USD 23.5 billion in 2023 and is expected to reach USD 32.1 billion by 2032, indicating a CAGR of over 3.6% between 2024 and 2032, driven by increasing demand from the automotive and industrial sectors.

The automotive industry generated approximately USD 11.3 billion in revenue from sintered steel components in 2023, highlighting its critical role in automotive manufacturing.

Asia Pacific leads the market, generating USD 9.4 billion in revenue in 2023. Key factors include a robust manufacturing base and strong demand from the automotive and industrial sectors.

Major players in the market include Allied Sinterings, AMES Sintering, GKN Powder Metallurgy, and Höganäs AB, among others, contributing significantly to market dynamics and innovation.